I am reading a Securities and Exchange Commission Release which refers to Chicago Board Options Exchange “Live Ammo” screens. The Release (which is what you will find if you enter “CBOE Live Ammo” into google) relates to making morning open trading more efficient by pre-matching/sorting pre-open trade orders. I think it is safe to assume that the “screens” are screens of computer data on trades, but I can’t figure out the “live ammo” part. Is it trader slang?
(Since many of my recent stock trades have blown up in my face, “live ammo” does have a certain ring to it.)